Vote Smart's Synopsis:

Vote to pass a bill that establishes the minimum value of a vehicle for registration tax purposes when someone other than a licensed motor vehicle dealer sells the vehicle. The bill requires the Texas Department of Transportation to establish "standard presumptive values" for vehicles based on published guidebooks. The bill establishes the minimum value of a vehicle, for tax purposes, as 80 percent of the "standard presumptive value," unless the purchaser can establish a lower value by an appraisal performed by a licensed appraiser or licensed motor vehicle dealer. The value of vehicles sold by licensed dealers may be established by a receipt or invoice. The bill exempts from this minimum value vehicles that are gifts, even exchanges, or those with "classic" license plates. The bill also requires insurers to value "total loss" vehicles at the "standard presumptive value" or higher.

Full Bill Text